Hydraulic fracturing has caused a dramatic reduction in the cost of producing natural gas and petroleum. a.
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Hydraulic fracturing has caused a dramatic reduction in the cost of producing natural gas and petroleum.
a. Briefly explain which industries are likely to be most directly affected by these cost reductions.
b. How will aggregate supply be affected by what happens in these industries as a result of the cost reductions from fracking? Is the effect likely to be greater in the short run or in the long run? Briefly explain.
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Money Banking And The Financial System
ISBN: 1801
3rd Edition
Authors: R. Glenn Hubbard, Anthony Patrick O'Brien
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